The stock market closed with record-breaking gains for the fourth consecutive day on Thursday. The benchmark Sensex crossed the 81,000 mark for the first time and the Nifty touched a record 24,800 mark on the back of buying in IT, oil and gas, and FMCG stocks. Recovering from its early lows, the 30-share BSE Sensex rose 626.91 points or 0.78 percent to close at a new closing high of 81,343.46 points.

The index opened on a weak note and hit a low of 80,390.37 points in early trade. However, buying in IT stocks TCS, Infosys Tech Mahindra, and index heavyweight Reliance Industries reduced the decline in the index in the afternoon session. The index rose 806 points or 0.99 percent to a new record high of 81,522.55 points. The broader Nifty also pared early losses and climbed 187.85 points or 0.76 percent to close at an all-time high of 24,800.85.

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During the day, it rose 224.75 points or 0.91 per cent to hit a new all-time high of 24,837.75. Easing US bond yields on rising expectations of interest rate cuts by the US Fed by September also boosted FII inflows into Indian equities, analysts said. Among Sensex stocks, Tata Consultancy Services was the top gainer, rising 3.33 percent.

Infosys rose 1.93 percent ahead of its June quarter financial results. The IT major reported a 7 percent rise in consolidated net profit to Rs 6368 crore for the April-June period after the market close and also raised its growth outlook for the current fiscal. Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India, and HCL Technologies were among the top gainers.

In contrast, Asian Paints, JSW Steel, NTPC, and Adani Ports were laggards. In Asian markets, Shanghai and Hong Kong rose, while Seoul and Tokyo declined. European markets were up. US markets closed mostly lower on Wednesday.

Global oil benchmark Brent crude fell 0.14 percent to $84.96 a barrel.

Foreign institutional investors (FIIs) bought shares worth Rs 1,271.45 crore on Tuesday, according to exchange data. Stock markets were closed on Wednesday due to Muharram.

Benchmark Sensex and Nifty have been on a record-breaking rally since Friday. The indices have been trading at their all-time highs for four consecutive sessions. The Nifty has gained around 485 points or 1.98 percent since Friday, while the Sensex has gained 1446 points or 1.79 percent.

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(With PTI's Input)